Lucid Group (LCID) Soars 21% as Saudi Prince Backing Eases Financial Health Worries

Lucid Group stock rose significantly on news of investment by Saudi Prince Alwaleed Bin Talal Bin Abdulaziz, who acquired a 5 percent stake in the electric vehicle manufacturer. The prince purchased 19.5 million shares valued at $154 million based on the stock’s closing price on the day of the announcement.
The investment provided a notable boost of confidence to the market after earlier reports had suggested the company was considering either bankruptcy proceedings or a transaction to ta